New Hope Home Inc

Analysis

New Hope Home Inc is a registered charity in United States, based in Long Beach, CA. It received its IRS tax-exemption ruling in March 2021, 5 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, New Hope Home Inc reported income of $278k and spending of $245k, spending 88% of its income. Across the 6 years on record, from June 2019 to December 2023, income fell from $367k to $278k (-24%), an average of -5.4% a year. The sharpest change came in the year to December 2022, when income rose by 92%. Over the whole period it spent 79% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, New Hope Home Inc sits at the 59th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 63rd percentile within CA. Charities of a similar size with the same main cause include The California Forest Foundation ($278k), Rotterdam Housing Development Fund Company Inc ($278k) and On Our Own Inc ($278k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $70k (29% of expenses). At year end it held assets of $9.0m against liabilities of $0, net assets of $9.0m.